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While it follows the generic structure of a village setting with adventure locales nearby a la Keep on the Borderlands, Village of Hommlet, and probably some others, I don't think it was the most thoroughly conceived module TSR put out. It is riddled with inconsistencies and odd notions that would never, I think, have made it through the editorial process in latter day TSR. And this may very well be what makes it so interesting as literature.
A close reading raises a whole host of questions such as why is there a casino inside a nigh-impenetrable compound hidden deep in the woods? Why does the wizard have a lease on the Baron's tower? And who keeps the lawn mowed on top of Bone Hill? The lords of Lendore don't offer an explanation to these mysteries; some things, one must suppose, just are. These open ended oddities make it the single most fascinating read of any old school module.
So, using a pen and a spiral-bound notebook, I wrote a bunch of essays--warning: I was once a history major--about the mysteries of Lendore. Some of them (actually only 2 so far) have been transcribed to non-caveman format and can be read over at The Restenford Project if you're interested.